Binance, hacker attack on blockchain: $ 100 million stolen

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The platform for the trading of cryptocurrencies Binance announced the theft of over 100 million from dollar token BNB with a hacker attack on the blockchain. The hackers used a “ponte cross-chain” to steal crypto.

Binance: $ 100 million theft with blockchain hacker attack

The platform confirmed that the hackers acted using a cross-chain bridge, which allowed the BNB token to be exported out of the Binance blockchain network. In fact, these tools allow you to transfer cryptocurrencies from one blockchain to another, and hackers have used them illegally without being discovered. At least until it was too late.

The company announced that it has suspended the creation of new blocks of Binance Smart Chain (BSC), along with all transactions, while the experts analyzes the hacker attack.

Changpeng Zhao, CEO of Binance, explained: “An exploit on a cross-chain bridge, BSC Token Hub, resulted in extra BNB. We asked all validators to temporarily suspend BSC ”. Shortly thereafter, the CEO said that: “IThe problem is now contained. THE your funds are safe. We apologize for the inconvenience and will provide further updates ”.

According to initial estimates, a figure between 100 and 110 million dollars it was extracted from the Binance blockchian. The company was able to freeze seven million dollars in funds. But that didn’t stop the currency’s value from dropping by three percentage points up to $ 285.36.

According to estimates by Chainalysis experts, hackers embezzled up to $ 1.4 billion worth of tokens in 2022. These figures, however, are not even comparable to about two trillion dollars lost compared to last year on the market, with the value of cryptocurrencies taking a hit since the beginning of 2022.